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STARTING & OPERATINGA BUSINESS IN FLORIDAStart-Up Checklist. . - - , -.-. . .- - -.- - - - -.-------'-Office Of Small Business Assistance-" Of Palm Beach County50 S. Military Trail, Suite 209West Palm Beach, FL 33415(561) 616-6840Website: www.pbcgov.comlosbaE-Mail: smallbiz@pbcgov.org
INDEXPage2TitleImportant Questions To Ask Yourself About Starting a Business3Ten Steps to Starting Your Small Business4Choosing a Legal Structure5Fictitious Name Registration: General InformationFlorida Statute 865.09Application for Registration of Fictitious Name9Business Tax Receipt General Information Instruction, Requirements and Office Locations for Obtaining Business Tax Receipt Home Business Tax Affidavit Application for PBC Business Tax Receipt14How To Test Market Your Entrepreneurial Idea15Preparing a Business Plan16Business Plan Outline Form21Starting & Operating a Small Business in Florida Checklist Worksheets: 37Worksheet 1 - Self-Evaluation Checklist for Going Into BusinessWorksheet 2 - Marketing Feasibility Study Checklist for Your Product or ServicesWorksheet 3 - Estimated Cash Inflow from SalesWorksheet 4 - Estimated Business Cash OutlayWorksheet 5 - Estimated Personal and Living ExpensesWorksheet 6 - Summary of Estimated Cash RequirementsSample Employment Application Form Worksheet 7 - Defining Your Company s Personnel Policies10 Questions to Answer Before Choosing a Small Business Lender38Putting Together A Loan Package40Miscellaneous Helpful Information Helpful Telephone Numbers & Addresses DirectoryFee Schedules: Florida Department of StateHelpful Web Sites From The Publisher of Florida Tend MagazineU.S. Income Tax Return For An "S" CorporationHelpful allbusiness.comwww.dos.state.fl.us!doc!cor form. te.fl.us!dor ! formswww.sunbiz.orgRevised: 06130/08To Find Info About(Gateway to Federal Resources)(Start-Up Your Business Info)(Click on the "Business" Tab)(Fee Schedules)(Dept. of Revenue)(Forms, Scheduling Fees, Starting ABusiness, etc.)
IMPORTANT QUESTIONS TO ASK YOURSELF ABOUT STARTING A BUSINESSAre you able to auswer "yes" to at least six of the following questions?1. Many business owners work twice as many hours in their own business as they did when they workedfor someone else.Are yon willing to invest 50, 60 or 70 hours a week to run a business?DYesDNo2. In your own business, there's no one to tell you what to do and when to do it.Are you self-motivated?DYesDNo3.Successfol business owners must manage money, hire andfire workers, comply with regulations and produce a top-notchproduct or service.Do you have business skills or experience? Leadership experience?DYes D No4.Entrepreneurs must do more than talk about their commitment to the business, they must show it.Are you willing to risk your savings on the venture?DYesD No5.Family squabbles andfailed marriages are common when the business isn't a team effort.Is your family supportive of the time and money you'll have to spend?DYesD NoEvaluate whether the demand is long-lasting or a fad.Do you have a product or service that is in demand?DNo6.7.DYesMost small businesses are funded by friends and family, not bank loans.If yon will need outside financing, do you have a network of friends or business associates who willDYesprovide it?D No8.Can you name five firms that sell your product or service locally or on the Internet? Keep in mind that electroniccommerce has changed the nature of competition in many businesses.DYesDNoDo you know what the competition is?9.It's important to know your niche, whether it's cheap prices or personal service, and then target customers.Does your busiuess have some advantage over existing firms?DYesD NoJfyou haven't been able to answer "yes" to at least six of the above questions,you may want to evaluate more carejUlly your possibilitiesas a small business owner.Revised: 6/27/082
Ten Steps to Starting Your Small Business5. Set Your Pricing. Have a price list or contract available foryour clients. This wa , customers know what they are getting,how much they are gomg to pay, and when it will be ready. Abook, "The Contract and Fee Setting Guide for Consultants andProfessionals," by Howard L. Shenson provides some excellentguidelines.1. Write a Business Plan. Most businesses fail because lbeydon't have a clearly spelled-out business plan. Don't make lbatmistake. Put together a detailed and accurate business plan.The more questions you can answer now, the fewer surprisesyou'll encounter down the road. A well-researched plan notonly helps you define your goals, but it is also a document youcan present to a loan officer or other potential loan source.Investigate Your Insurance Options.Like home6.insurance, business insurance protects lbe contents of your?usiness against fire, theft and other losses. Contact yourmsurance agent or broker. It is prudent for any business topurchase a number of basic types of insurance. Some types ofcoverage are required by law, others simply make good businesssense. Examples are: liability insurance; property insurance'2. Raise your Capital. Once you've found the business ofyour dreams, you'll need to find a way to finance it. Crazy as itsounds, experts advise starting your business without a loan.The key is to begin small and use the resources you alreadyhave. The average cost to start a business from home rangesfrom 50 to 2,000. If you do need to borrow money, find outabout local resources such as the local Small BusinessAdministration office or local programs for small businesses.business interruption insurance; home office insurance.'7. Set Up Your Office. You'll need to decide whether or notyou need a small or large area. You should base this decisionon your business plan and the service or product your businesswill offer on a daily basis.Another source of financing is family or friends. If you doaccept financing from another party even if it is from family orfriends, spend the time (and money, if necessary) to draw up acontract stating all the particulars of the loan. Finally, if youmust use a credit card to finance your business, put a limit onhow much you charge and stick to it.When shopping for business equipment, ask yourself "Do Ireally need this?" Ask that at least five times, take a deepbr ath, a d go home and think about it for a week. By then youwlll reahze that you don't need all 25 colored pens - three willsuffice.3. Name your Business. Your business name should tell thecustomer exactly what you do. For example, if your leaf-rakingbusiness is called "Leaves of Autumn," a person walking downthe street wouldn't necessarily make the connection. But if it'scalled "We Rake So You Don't," a passerby in need of yardwork will give you a call. If you don't want to use a fictitiousname, simply use your full legal name in the title of yourbusiness. If your name is Alice Smith, call your umbrellabusiness Alice Smith Umbrellas. However, if you name thebusiness Umbrellas for U, you will have to register the namewith the Secretary of State and the County Clerk's office, andwill also have to place an announcement in the local newspaper.8. Get Stationery and Business Cards. Business cards andpersonal letterhead are essential. If you have a computer, somesort of publishing software and a decent printer, you can easilymake your own. Most office supply stores carry good qualitypaper and card stock. If you're not comfortable designing orproducing your own letterhead or business cards, have it doneprofessionally. This is one area you don't want to skimp on.9. Get a Second Phone Line. You may want to considerinsta1ling a second phone line for your business.Theadvantages include lbe ability to track business call expensesand list the number in the Yellow Pages. If a second line is tooexpensive at first, there is another solution.The phonecompany can give you a business number that rings on yourregular phone with a double ring that lets you know it's abusiness call.4. Make it Legal. Whenever you start a small business, youwill have to deal with legal issues. Don't think that you're toosmall for local authorities to bother with. Be sure to: Find out about your local zoning laws. Call the Palm BeachCounty Planning and Zoning Office at (561) 233-5003.Cha ces are it is legal to open a home business in your town,but It's better to make sure first.10. Don't Forget the Details. Get yourself an organizer, anduse it! Consider getting a post office box for your businessaddress if you don't want clients coming to your house. Find out what Iicense(s) you need to do business. (561) 3552272 (Palm Beach County Occupational License Office).Costs vary.You have a lot to do!So get going! Get a state sales tax certificate so you can start collecting andpaying state sales taxes if you're se1ling goods. Get a resaletax certificate if you're going to be buying or sellingwholesale goods. Get appropriate form(s) from the InternalRevenue Service at (800) 829-3676.Palm Beach CountyOffice of Small Business Assistance50 S. Military Trail, Suite 209West Palm Beach, FI33415Revised: 06127/08Phone: 561-616-6840Fax: 561-616-68503
CHOOSING A LEGAL STRUCTURETo get a business up and running, you must first decide on its legal structure:!CORPORATION!A separate legal entity must be incorporated witll tile Florida Department of State, Division of Corporations.Pro:Con:./With a C-Corporation the corporation, rather than the individuals, pays taxes and assumesliabilities./C-Corporations pay Florida's 5.5% corporate income tax./S-Corporations allow up to 75 shareholders to share income and expenses and to report them ontheir individual income tax returns./Annual filing fees are higher than for other corporate structures!LIMITED LIABILITY COMPANY!A hybrid form of business that combines tile elements of partnersllips and corporations. LLCs must file initially withtile Florida Department of State, Division of Corporations.Pro:./May elect to be taxed as either a partnership or a corporationCon:./Annual filing with State of Florida!PARTNERSHIP!Limited Partnerships must file initially witll tile Florida Department of State, Division of Corporations. An annualfiling, called tile Uniform Business Report, is required.Pro:Con:./Can be formed as easily as sole proprietorships./Allows two or more people to share liability and provide capital./Business income is reported on partners' individual tax returns./A written partnership agreement is needed./Cannot be dissolved on a whim!SOLE PROPRIETORSHIP!Pro:Con:./No state filings to set up and disband./Profits are taxed at the owner's individual federal income tax rate, with the amount reported onSchedule C or Schedule CZ./Owners have unlimited personal liability for any debts or other obligations thebusiness incurs. In Florida, at least for now, that liability is limited by the State's homesteadrights laws, preventing creditors from seizing an owner's home.4
Fictitious Name Registration - General InformationRegistration under the Fictitious Name Act is for public notice only and gives rise to no presumption of the registrant's rights to own or use thename registered nor does it affect trademark, service mark, or corporate name rights previously acquired by others in the same or similar name.Registration under this section does not reserve a fictitious name against future use,For the purpose of filing documents on-line, the typed name ofthe individual "signing" the document is sufficient under 8.15.16, Florida Statutes.Electronic signatures have the same legal effect as original signatures. Typing in someone's name/signature without their permission constitutesforgery,Refer to Chapter 15.16(6), Florida Statutes, for additional information regarding the advertisement of the intention to register a fictitious name.The Division of Corporations will not deny a registration for a duplicate name. Every fictitious name application will be registered ifstatutory filing requirements are met. Applicants that are licensed under other sections of statute should insure that a proposed name isacceptable under the provisions of their respective regulating law prior to submission of an application under this part.If a business fails to comply with this act, the business, its members, and those interested in participating in such business may not maintain anyaction, suit, or proceeding in any court of this state until this section is complied with. Any person who fails to comply with this act commits amisdemeanor of the second degree, punishable as provided in s.775.082 or s.775.083, Florida Statutes.Effective January 1, 1991, the filing responsibility for fictitious name registration is with the Department of State, Division of Corporations.A person may engage in business under a fictitious name by registering the name with the Division of Corporations by completing the "Applicationfor Registration of Fictitious Name."Ifa change of ownership occurs, the owner(s) of record must file a cancellation and re registration within 30 days ofthe change.Fictitious names are valid for 5 years and expire on December 31 81 of the fifth year.Each Fictitious Name Registration must e renewed between July 1 and December 31 of the expiration year to maintain registration under this act.The Division of Corporations will mail to the last reported mailing address, at least 3 months prior to its expiration date, a statement of renewal.Please keep your current address on file with the Division of Corporations.Contact InformationAny request for certificate of status or a certified copy of a Fictitious Name Registration, if other than on the initial registration, shouldbe directed to the Division of Corporations, p, 0, Box 6327, Tallahassee, Florida 32314For information regarding fictitious names on file, you may search the Division's records online or call (850) 488-9000,Hearing/V oice Impaired may call (850) 245-6069 (TDD),Mailing Address for RegistrationFictitious Name Registrationp, 0, Box 1300Tallahassee, Florida 32302-1300Phone Number850-488-9000On-Line RegistrationQuestions850-245-6058Internet Addresswww.sunbiz.orgFictitious Name FeesThe non-refundable processing fees for on-line registration of fictitious names are as follows:Registration of Fictitious Name "', . ,. ,"""', . ,.,"""", 50,00Cancellation and Re-registration of Fictitious Name", 50,00Renewal of Fictitious Name Registration"" . ,,"""" 50 ,00Certified Copy of Fictitious Name Registration """",, 30,00Search of Records ",."""""""" . """""""" . """""",, 11 ,00Certificate of Status of Fictitious Name Registration" 1 0,00Photocopies"""".",.""""""", . """"""""" . ,""""""" 1 ,00 per pageRevised: 06/27/085
865.09 Fictitious name registration.(1) SHORT TITLE.--This section may be cited as the "Fictitious Name Act."(2) DEFINITIONS.--As used in this section:(a) "Fictitious name" means any name under which a person transacts business in this state, other than the person's legal name,(b) "Business" means any enterprise or venture, in which a person sells, buys, exchanges, barters, deals, or represents the dealing in anything orarticle of value, or renders services for compensation,(c) "Division" means the Division of Corporations of the Department of State.(3) REGISTRATION.--A person may not engage in business under a fictitious name unless the person first registers the name with the division by filing asworn statement listing:(a) The name to be registered.(b) The mailing address of the business.(c) The name and address of each owner and, if a corporation, its federal employer's identification number and Florida incorporation or registrationnumber.(d) Certification by the applicant that thc intention to register such fictitious name has been advertised at least once in a newspaper as defined inchapter 50 in the county where the principal place of business of the applicant will be located.(e) Any other infOlmation the division may deem necessary to adequately inform other govemmental agencies and the public as to the persons soconducting business.Such statement shall be accompanied by the applicable processing fees and any other taxes or penalties owed to the state.(4) CHANGE OF OWNERSHIP.--Ifthe ownership ofa business registered under this section changes, the owner of record with the division shall file acancellation and re-registration that meets the requirements set forth in subsection (3) within 30 days after the occurrence of such change.(5) TERM.--A fictitious name registered under this section shall be valid for a period of 5 years and expires on December 31 of the 5th year.(6) RENEWAL.-(a) Renewal of a fictitious name registration shall occur on or after January 1 and on or before December 31 of the expiration year. Upon timelyfiling ofa renewal statement, the effectiveness of the name registration is continued for 5 years as provided in subsection (5).(b) In the last year of the registration, the division shall mail to the last reported mailing address or to the address of any registered owner of aname a statement of renewal.(c) If the owncr of the name registration fails to file a renewal and pay the appropriate processing fees prior to December 31 of the year ofexpiration, the name registration expires. The division shall remove any expired or canceled name registration from its records and may purge suchregistrations. Failure to receive the statement of renewal required by paragraph (b) shall not constitute grounds for appeal of a registration'sexpiration or removal from the division's records.(7) EXEMPTIONS.--A business formed by an attorney actively licensed to practice law in this state, by a person actively licensed by the Department ofBusiness and Professional Regulation or the Department of Health for the purpose of practicing his or her licensed profession, or by any corporation,partnership, or other commercial entity that is actively organized or registered with the Department of State is not required to register its name pursuant to thissection, unless the name under which business is to be conducted differs from the name as licensed or registered.(8) EFFECT OF REGISTRATION.--Notwithstanding the provisions of any other law, registration under this section is for public notice only, and givesrise to no presumption of the registrant's rights to own or use the name registered, nor does it affect trademark, service mark, trade name, or corporate namerights previously acquired by others in the same or a similar name. Registration under this section does not reserve a fictitious name against future use.(9) PENALTIES.-(a) If a business fails to comply with this section, the business, its members, and those interested in doing such business may not maintain anyaction, suit, or proceeding in any court of this state until this section is complied with. An action, suit, or proceeding may not be maintained in anycourt of this state by any successor or assignee of such business on any right, claim, or demand arising out of the transaction of business by suchbusiness in this state until this section has been complied with.(b) The failure of a business to comply with this section does not impair the validity of any contract, deed, mortgage, security interest, lien, or actof such business and does not prevent such business from defending any action, suit, or proceeding in any court of this state. However, a partyaggrieved by a non-complying business may be awarded reasonable attomey's fees and court costs necessitated by the non-complying business.(c) Any person who fails to comply with this section commits a misdemeanor of the second degree, punishable as provided in s. 775.082 or s.775.083.(10) POWERS OF DEPARTMENT.--The Department of State is granted the power reasonably necessary to enable it to administer this section efficiently,to perform the duties herein imposed upon it, and to adopt reasonable rules necessary to carry out its duties and functions under this section.(11) FORMS.--Registration, cancellation, and renewal shall be made on forms prescribed by the Department of State, which may include the uniformbusiness report, pursuant to s. 606.06, as a means of satisfying the requirement of this Lpart.(12) PROCESSING FEES.--The Dcpartment of State shall charge and collect nonrefundable processing fees as follows:(a) For registration of a fictitious name, 50.(b) For cancellation and re-registration of a fictitious name, 50.(c) For renewal ofa fictitious name, 50.(d) For furnishing a certified copy of a fictitious name document. 30.(e) For fumishing a certificate of status, 10.(13) DEPOSIT OF FUNDS.--All funds required to be paid to the Department of State pursuant to this section shall be collected and deposited into theGeneral Revenue Fund.(14) PROHIBITION.--A fictitious name registered as provided in this section may not contain the words "Corporation" or "Incorporated." or theabbreviations "Corp." or "Inc.," unless the person or business for which the name is registered is incorporated or has obtained a cel1ificate of authority totransact business in this state pursuant to chapter 607 or chapter 617.(15) LEGAL DESIGNATION OF ENTITY.--Notwithstanding any other provision of law to the contrary, a fictitious name registered as provided in thissection for a corporation, limited liability company, limited liability partnership, or limited partnership is not required to contain the designation of the type oflegal entity in which the person or business is organized, including the terms "corporation," "limited liability company," "limited liability partnership,""limited partnership," or any abbreviation or derivative thereof.2007 Florida StatutesRevised 6/30/086
APPLICATION FOR REGISTRATION OF FICTITIOUS NAMENote: Acknowledgements/cerlificates will be sent to the address In Section 1 only.1.Fictitious Name to be Registered (see instructions if nama includes "Corp" or "Inc").c:o Mailing Address of BusinessStateCilylip Coda3. Florida County of principal place of business:(see instructions jf more than one county)This space for office use onlyA. Owner(s) of Fictitious Name If Indivldual(s): (Use an attachment if eCityC\IM.1.FirstSlateCilyZip Codac:B. Owner(s) of Fictitious Name If other than an individual: (Use attachment if necessary): 1.o2.Entity NameEnUty NameAddressAddressStaleCityc:Cllylip CodeSlateFlorida Registration NumberFlorida Registration NumberFEI Number:FEI Number:o Applied forC')Zip Codao Not Applicableo Applied forZip Codao Not ApplicableI (we) the undersigned, being the sale (alilhe) party(ies) owning interest in the above fictitious name, certify that the Information indicated on this formis true and accurate. In accordance with Section 865.09, F.S., I (we) understand that the signature(s) below shall have the same [egal effect as ifmade under oath. (At Least One Signature Required)o Signature of OwnerDatePhone Number:Signature of OwnerDalePhone Number:FOR CANCELLATION COMPLETE SECTION 4 ONLY:FOR FICTITIOUS NAME OR OWNERSHIP CHANGE COMPLETE SECTIONS 1 THROUGH 4:I (we) the undersigned, hereby cancel the fictitious name,which was registered onand was assignedregistration numberSignature of OwnerDateSignature of OwnerMark the applicable boxes0 Certificate of Status - 100 Certified Copy NON-REFUNDABLE PROCESSING FEE: 50Dale 30SingleCA4E001 (11103)
Instructions for Completing Application for Registration of Fictitious NameSection 1:Line 1: Enter the name as you wish it to be registered. A fictitious name may not contain the words"Corporation" or "Incorporated," or the abbreviations "Corp:' or "Inc.," unless the person or businessfor which the name is registered is incorporated or has obtained a certificate of authority to transactbusiness in this state pursuant to chapter 607 or chapter 617 Florida Statutes. Corporations are notrequired to file under their exact corporate name.Line 2: Enter the mailing address of the business. This address does not have to be the principalplace of business and can be directed to anyone's attention. DO NOT USE AN ADDRESS THATIS NOT YET OCCUPIED. ALL FUTURE MAILINGS AND ANY CERTIFICATION REQUESTED ONTHIS REGISTRATION FORM WILL BE SENT TO THE ADDRESS IN SECTION 1. An address maybe changed at any future date with no charge by simply writing the Division.Line 3: Enter the name of the county in Florida where the principal place of business of the fictitiousname is located. If there is more than one county, list all applicable counties or state "multiple".Section 2:Part A: Complete if the owner(s) of the fictitious name are individuals. The individual's name andaddress must be provided.Part B: Complete if the owner(s) are not individuals. Examples are a corporation, limited partnership,joint venture, general partnership, trusts, fictitious name, etc. Provide the name of the owner, theiraddress, their registration number as registered with the Division of Corporations, and the FederalEmployer Identification (FEI) number. An FEI number must be provided or the appropriate box mustbe checked.Owners listed in Part B must be registered with the Division of Corporations or provide documentation as to why they are not required to register. Examples would be Federally Chartered Corporations,or Legislatively created entities.Additional owners may be listed on an attached page as long as all of the information requested inPart A or Part B is provided.Section 3:Only one signature is required. It is preferred that a daytime phone number be provided in order tocontact the applicant if there are any questions about the application. Since the Department indexesfictitious names on a central database available on the internet, it is no longer required to advertisethe intention to register a fictitious name.Section 4:TO CANCEL A REGISTRATION ON FILE: Provide fictitious name, date filed, and registrationnumber of the fictitious name to be cancelled.TO CHANGE OWNERSHIP OF A REGISTRATION: Complete section 4 to cancel the originalregistration. Complete sections 1 through 3 to re-register the fictitious name listing the new owner(s).An owner's signature is required in both sections 3 and 4.TO CHANGE THE NAME OF A REGISTRATION: Complete section 4 to cancel the originalregistration. Complete sections 1 through 3 to re-register the new fictitious name. An owner'ssignature is required in both sections 3 and 4.An acknowledgement letter will be mailed once the fictitious name registration has been filed.If you wish to receive a certificate of status and/or certified copy at the time of filing of this registration, check theappropriate box at the bottom of the form. PLEASE NOTE: Acknowledgments/certificates will be sent to the address inSection 1. If a certificate of status is requested, an additional 10 is due. If a certified copy is requested, an additional 30 is due.The registration and reregistration will be in effect until December 31 of the fifth year.Send completed application with appropriate fees in the enclosed envelope to:Internet Address:Fictitious Name RegistrationPO Box 1300http://www .sunbiz.orgTallahassee, FL 32302-1300The fee for registering a fictitious name is 50. Please make a separate check for each filing payable to the Departmentof State. Application must be typed or printed in ink and legible.SingleCA4E001 (11/03)
BUSINESS TAX RECEIPTBy act 0/ tlte Florida Legislature Local Occupational Licenses are now called LocalBusiness Tax Receipts.The Tax CollectOi' is contracted by the Board of County Commissioners to collect the LocalBusiness Tax. The tax is collected for the privilege of operating a business anywhere in thecounty, including municipalities. Anyone providing merchandise or services to the public,even a one-person company or home-based business must pay the Local Business Tax.Important In/ormation about Local Business Tax: 97,000 Palm Beach County Local Business Tax receipts were processed in 2007. The Local Business Tax is due September 30 and can be paid on or after July 1. OnOctobcr 1, unpaid Local Business Tax is delinquent and subject to penalties eachmonth thereafter. The Local Business Tax is prorated Apdl 1, at which time half-year fees apply. Businesses must display Palm Beach County Business Tax Receipt viewable tocustomers. Businesses may also be subject to municipal and county laws, zoning codes and stateregulations. Change of address, ownership, or name must be reported to the Tax Collector'sOffice and requires a new application. Public access to the official record of new Business Listings is available on thiswebsite and in our offices. Daily reports of new businesses al'e available bysubscription on hard copy, diskette, CD or by intemet download.For additional information regarding Palm Beach County Business Tax Receipts, pleasevisit the Tax Collector on the internet athttp://www.pbcgov.com/tax/services business.shtml or call 561-355-2272.Revised: 6127/089
INSTRUCTIONS FOR OBTAINING A BUSINESS TAX RECEIPTCHANGE OF BUSINESS LOCATION REQUIRES ZONING APPROVAL &A NEW APPLICATION FORM COMPLETEDPlease note: To determine whether your business is located within a municipality (city), contact the municipality nearest yourbusiness location.1.2.3.If your business is located inside municipal (city) limits, you must submit the application to the municipality in personfor their approval.If your business is located in the unincorporated area of Palm Beach County (outside the limits of a municipality), youmust take in-person a legal description of the property to: Planning, Building and Zoning Department, 100 AustralianAvenue, West Palm Beach (233-5200) or 2976 State Road #15, Belle Glade (966-1650). Certain home basedbusinesses may be exempt from this procedure. Further information may be obtained at any branch office.Mail completed application with your check or money order to:Tax Collector, Palm Be
No state filings to set up and disband ./ Profits are taxed at the owner's individual federal income tax rate, with the amount reported on Schedule C or Schedule CZ Con: ./ Owners have unlimited personal liability for any debts or other obligations the business incurs. In Florida, at least fo
